MUU vs. NVDG

Last updated Jun 4, 2026

MUU (Direxion Daily MU Bull 2X Shares) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, MUU returned 6522.95% vs 83.14% for NVDG. A 0.51 correlation means they provide meaningful diversification when combined. MUU charges 1.06%/yr vs 0.75%/yr for NVDG.

Performance

MUU vs. NVDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MU Bull 2X Shares (MUU) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUU achieves a 961.23% return, which is significantly higher than NVDG's 18.93% return.

MUU

• 1D: 3.08%
• 1M: 218.90%
• YTD: 961.23%
• 6M: 1,422.01%
• 1Y: 6,522.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDG

• 1D: -7.35%
• 1M: 14.07%
• YTD: 18.93%
• 6M: 26.05%
• 1Y: 83.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MUU vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MUU Direxion Daily MU Bull 2X Shares	961.23%	599.03%	-36.01%
NVDG Leverage Shares 2X Long NVDA Daily ETF	18.93%	32.45%	-0.75%

Correlation

The correlation between MUU and NVDG is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	0.51

The correlation between MUU and NVDG shifts across timeframes, from 0.40 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MUU vs. NVDG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 98
MUU Omega Ratio Rank: 97
MUU Calmar Ratio Rank: 100
MUU Martin Ratio Rank: 100

NVDG

NVDG Risk / Return Rank: 34
NVDG Sharpe Ratio Rank: 34
NVDG Sortino Ratio Rank: 35
NVDG Omega Ratio Rank: 33
NVDG Calmar Ratio Rank: 39
NVDG Martin Ratio Rank: 30

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MUU vs. NVDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bull 2X Shares (MUU) and Leverage Shares 2X Long NVDA Daily ETF (NVDG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MUU	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	50.40	1.24	+49.17
Sortino ratio: Return per unit of downside risk	7.17	1.87	+5.31
Omega ratio: Gain probability vs. loss probability	1.91	1.22	+0.69
Calmar ratio: Return relative to maximum drawdown	125.85	1.96	+123.89
Martin ratio: Return relative to average drawdown	426.84	4.44	+422.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MUU vs. NVDG - Sharpe Ratio Comparison

The current MUU Sharpe Ratio is 50.40, which is higher than the NVDG Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of MUU and NVDG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MUU	NVDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	50.40	1.24	+49.17
Sharpe Ratio (All Time) Calculated using the full available price history	6.68	0.40	+6.29

Drawdowns

MUU vs. NVDG - Drawdown Comparison

The maximum MUU drawdown since its inception was -75.07%, which is greater than NVDG's maximum drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for MUU and NVDG.

Drawdown Indicators

	MUU	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-75.07%	-66.19%	-8.88%
Max Drawdown (1Y) Largest decline over 1 year	-52.72%	-42.72%	-10.00%
Current Drawdown Current decline from peak	0.00%	-18.34%	+18.34%
Average Drawdown Average peak-to-trough decline	-23.44%	-23.07%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.51%	18.77%	-3.26%

Volatility

MUU vs. NVDG - Volatility Comparison

Direxion Daily MU Bull 2X Shares (MUU) has a higher volatility of 54.78% compared to Leverage Shares 2X Long NVDA Daily ETF (NVDG) at 25.14%. This indicates that MUU's price experiences larger fluctuations and is considered to be riskier than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUU	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	54.78%	25.14%	+29.64%
Volatility (6M) Calculated over the trailing 6-month period	105.07%	50.15%	+54.92%
Volatility (1Y) Calculated over the trailing 1-year period	131.77%	67.81%	+63.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	133.67%	90.72%	+42.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	133.67%	90.72%	+42.95%

MUU vs. NVDG - Expense Ratio Comparison

MUU has a 1.06% expense ratio, which is higher than NVDG's 0.75% expense ratio.

Dividends

MUU vs. NVDG - Dividend Comparison

MUU's dividend yield for the trailing twelve months is around 0.46%, less than NVDG's 9.93% yield.

Position	TTM	2025	2024
MUU Direxion Daily MU Bull 2X Shares	0.46%	4.27%	0.31%
NVDG Leverage Shares 2X Long NVDA Daily ETF	9.93%	11.81%	0.00%

Frequently Asked Questions

Can I hold both MUU and NVDG in my portfolio?

MUU and NVDG have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUU or NVDG?

MUU has higher volatility (54.78%) compared to NVDG (25.14%). In terms of maximum drawdown, MUU dropped -75.07% vs NVDG's -66.19%.

Which ETF is better, MUU or NVDG?

On 1-year performance, MUU leads with 6522.95% vs 83.14% for NVDG. On fees, NVDG is cheaper at 0.75% per year. On volatility, NVDG has been the lower-risk option at 25.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUU or NVDG?

Over the 1-year period, MUU has performed better with a 6522.95% return vs 83.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUU or NVDG?

NVDG is cheaper with a 0.75% expense ratio, compared with 1.06% for MUU.

Which ETF pays a higher dividend yield, MUU or NVDG?

NVDG has the higher dividend yield at 9.93%, compared with 0.46% for MUU.

What is the main difference between MUU and NVDG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.06% for MUU and 0.75% for NVDG.

Which has better risk-adjusted returns?

MUU currently has the higher Sharpe Ratio (50.40 vs 1.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.